Global and Singapore fintech funding reduced, alongside dip in late stage funding, given rising interest rates and economic headwinds
- Written by The Bulletin
KPMG Pulse of Fintech – H1'2023
- Global funding in fintech dropped 17 percent to US$52.4 billion across 2,153 deals in H1'23, while Singapore H1'23 funding fell to US$934 million across 84 deals from H2'22
- Singapore's artificial intelligence and machine learning fintechs attracted US$129 million in H1'23
- Payments, crypto and AI deals demonstrated some resilience amongst fintech subsectors within Singapore
- Americas sees fintech funding climb from US$28.9 billion in H2'22 to US$36.1 billion in H1'23 as investors enact protective measures to avoid down rounds
- With US$8.2 billion of funding, global supply chain and logistics focused fintech funding surpasses previous annual record.
